Agenda item

The Committee received a report of the Corporate Director of Resources which provided a summary of the key accounting changes in the latest edition of the Code of Practice for Local Authority Accounting in the UK (the Code).  These changes apply to the 2021/22 Statement of Accounts (for copy see file of minutes).

Responding to concerns from Mr Robinson in relation to valuations for operational property and plant and equipment, the Finance Manager, Revenue, Pensions and Technical clarified that valuations would continue to be completed by Corporate Land and Property valuers. CIPFA proposals were to pause external professional valuations and introduce a national index that was yet to be determined.

Resolved:

That the report be noted.